Brazil police say Batistas saved up to $44 million with insider trading

Reuters Staff

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SAO PAULO (Reuters) - The billionaire Batista brothers saved as much as 138 million reais ($44 million) through insider trading in May, when their investment vehicle sold shares of meatpacker JBS SA (JBSS3.SA) before signing a plea bargain deal that sent the stock plunging, Brazilian police said on Wednesday.